Watts Water Technologies, Inc. (NYSE:WTS) Receives $340.20 Consensus Price Target from Analysts

Watts Water Technologies, Inc. (NYSE:WTS) has received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $342.90.

WTS has been the subject of several research reports. Robert W. Baird set a $330.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $358.00 price objective on shares of Watts Water Technologies in a research note on Friday, May 8th. KeyCorp lifted their target price on Watts Water Technologies from $360.00 to $380.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Stifel Nicolaus set a $379.00 target price on Watts Water Technologies in a research note on Friday, May 8th. Finally, Barclays upgraded Watts Water Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $317.00 to $414.00 in a report on Tuesday, June 30th.

Watts Water Technologies Trading Down 1.8%

NYSE WTS opened at $347.11 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. The firm has a market cap of $11.59 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 3.04 and a beta of 1.14. The firm has a 50 day simple moving average of $331.56 and a 200-day simple moving average of $312.33. Watts Water Technologies has a one year low of $246.55 and a one year high of $394.54.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.32. The firm had revenue of $677.30 million for the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.37 EPS. Equities research analysts anticipate that Watts Water Technologies will post 12.03 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies’s payout ratio is currently 23.06%.

Insider Buying and Selling

In other Watts Water Technologies news, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the transaction, the director owned 1,814 shares in the company, valued at $561,668.82. The trade was a 17.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Elie Melhem sold 2,257 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total transaction of $679,357.00. Following the transaction, the insider owned 8,963 shares of the company’s stock, valued at $2,697,863. This trade represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Watts Water Technologies

Several institutional investors have recently modified their holdings of the company. Advyzon Investment Management LLC increased its stake in shares of Watts Water Technologies by 3.8% in the fourth quarter. Advyzon Investment Management LLC now owns 843 shares of the technology company’s stock worth $233,000 after buying an additional 31 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Watts Water Technologies by 0.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,163 shares of the technology company’s stock valued at $1,149,000 after acquiring an additional 32 shares during the last quarter. C M Bidwell & Associates Ltd. boosted its stake in Watts Water Technologies by 5.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 648 shares of the technology company’s stock valued at $179,000 after acquiring an additional 34 shares during the last quarter. Centennial Wealth Advisory LLC grew its holdings in Watts Water Technologies by 3.8% during the 4th quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company’s stock worth $279,000 after acquiring an additional 37 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Watts Water Technologies by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,510 shares of the technology company’s stock worth $1,521,000 after acquiring an additional 38 shares in the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.